Guardians of children and elderly persons, pet owners, and owners of easily lost or stolen objects often find that keeping track of children, elderly persons, pets, and valuable objects can be difficult without constant supervision. For example, a parent takes her child on a picnic, and while the parent is preparing a meal, the child runs from the parent's area of immediate supervision causing the parent to panic upon realizing the child has left the area. Likewise, a pet owner may take a pet to an area such as a beach or playground to allow the pet to play only to find that the pet runs from the area within the view of the pet owner. A valuable object such as a purse or briefcase may be misplaced, or those objects may be stolen from the owner and removed from the owner's control.
Accordingly, there is need in the art for a system and method for establishing a perimeter within which a monitored person or object may travel or be taken such that if the person or object travels or is taken outside the monitored perimeter, a monitoring device operated by the guardian of the person or owner of the object will alarm to notify the guardian or owner that the person or object has traveled or has been taken outside the monitored perimeter.